Understanding the Business and Economic Environment

Understanding the Business
and Economic Environment

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY ..................................................................................................................................1
1. Determine any one business enterprise from the UK Standard Industrial Classification (SIC
2007) and select a UK public limited company (PLC) from that industry. ..........................1
2. The structure of the industry is one of the most crucial and authoritative factor of the
business environment. Discuss in brief the structure of the car industry. .............................2
3. Discuss in brief the company and the nature of the chosen company (a UK PLC) with
respect to the industry structure..............................................................................................2
4. Perform a company based STEEPLE analysis of Bentley to examine the outside business
environment of the company in the last 5-10 years. ..............................................................2
5. Analyse and mention the business difficulties and challenges Bentley incurs and comment
on the outer effects of a business judgement on company, its customers, competitors and
employees. .............................................................................................................................4
REFERENCES ...............................................................................................................................6

INTRODUCTION
The UK Standard Industrial Classification (SIC 2007) refers to the current Standard
Industrial Classification (SIC) which is utilised in categorising the business establishments and
different statistical units on the basis of the kind of economic activity that the businesses perform
(Azad, 202. In this report the industry chosen under SIC 2007 is the Automotive industry. The
subdivision under this is the land transport and the company chosen in the subdivision is Bentley
Motors. This report contains a brief explanation of the chosen business enterprise in the
respective industry. It also explains the structure of the automotive transportation industry
chosen. This also contains a brief STEEPLE analysis of Bentley as an organisation. A discussion
regarding the problems that the business faces from the external environment and the effects that
it has on its decision making is also justified.
MAIN BODY
1. Determine any one business enterprise from the UK Standard Industrial Classification (SIC
2007) and select a UK public limited company (PLC) from that industry.
The industry identified under UK Standard Industrial Classification (SIC 2007) is of Section-H
which is of transportation and storage. This sphere regards with the preconditions of passenger or
freight transportation, either scheduled or not, via rail, pipeline, road, water or air and attached
facilities which includes terminal and parking facilities, handling of cargo, storing (Barua, 2021).
this section also contains the transport equipment which is rental with the drivers or the vehicle
operator. It also contains postal and courier facilities. The subcomponents of this section are
 Division 49: Land transport and transport via pipelines
 Division 50: Water transport
 Division 51: Air transport
 Division 52: Warehousing and support activities for transportation
 Division 53: Postal and courier activities
The selected industry is the car industry. It come under the subdivision 49 of land transport and
transportation via pipelines. The company chosen under this subdivision of land transport is
Bentley Motors (1919–present).
1